Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin Boom Still In Play? Analyst Predicts Final Leg Up

Share This Post

According to a CryptoQuant Quicktake post published earlier today, Bitcoin (BTC) may not have reached the peak of the current market cycle just yet. A key on-chain metric suggests that there could be one final leg up for the leading cryptocurrency before this bull market concludes.

Bitcoin To Hit New Peak Soon?

Data from CoinGecko shows that Bitcoin has dropped more than 23% since reaching its most recent all-time high (ATH) of $108,786, on January 8. The top digital asset has largely been affected by ongoing global macroeconomic uncertainties, particularly those related to US President Donald Trump’s new tariff policies.

Despite the pullback, CryptoQuant contributor Crypto Dan believes Bitcoin may still have room to run. In a recent Quicktake post, he pointed to the ratio of BTC volume traded over a six to 12-month period as a crucial indicator of the current market cycle’s progression.

This ratio reflects the amount of new capital entering the crypto market during the cycle and has historically been tightly correlated with market movements. According to Crypto Dan:

Typically, this ratio first declines, signalling the end of the early phase of the bull cycle. After some time, it declines again, reaching a lower level than the first drop, marking the end of the bull cycle.

Following the first decline in the ratio, the market often regains bullish momentum. Subsequently, the second leg of the rally tends to attract latecomers and retail investors whose participation sends BTC to new highs. 

Finally, as market euphoria begins to peak and distribution phase begins, the volume ratio experiences a second, sharper decline. Finally, the second drop in the ratio marks the end of the bull cycle and precedes a significant market correction.

According to the following chart, BTC hit a critical midpoint in March 2024, when the six to 12-month volume ratio experienced its first notable decline – consistent with patterns observed in previous cycles. The ratio now appears to be entering its second and final dip, potentially leading Bitcoin toward this cycle’s ultimate peak.

CQ

BTC Holders Seeing Current Pullback As Temporary

Multiple indicators suggest that Bitcoin holders see the ongoing market correction as short-term. For example, recent analysis by CryptoQuant contributor Onchained revealed that short-term BTC holders are continuing to hold their coins despite being in a loss – possibly in anticipation of an upcoming bullish reversal.

Additionally, exchange net flow data points toward a potential price rally, indicating reduced selling pressure. At press time, BTC is trading at $82,086, down 1.5% in the last 24 hours.

bitcoin

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?

Solana has held strong above the $145 level, maintaining a bullish structure despite recent market volatility However, bulls have failed to push decisively above the $155 resistance zone, a key level

Investors increase crypto allocations to yearly highs, Bitcoin leads the accumulation

Investor portfolio allocations to crypto have reached a yearly high of 18% as of April 29, according to a recent report published by CoinShares  The report attributed the increase to recent price

Fed Liquidity or Bust: Veteran Investor Sees Inflation Roaring Back to 9%

A Federal Reserve survey naming the trade war and US debt as the economy’s top threats has prompted veteran investor Clem Chambers to warn of an overlooked supply-chain squeeze that could jolt

Worldcoin Price Forecast: Can WLD Price Regain $2 In April?

The post Worldcoin Price Forecast: Can WLD Price Regain $2 In April appeared first on Coinpedia Fintech News Coinbase announced plans to list WLD coins on the Optimism network soon WLD price has

Vitalik Buterin outlines bold Ethereum goals for 2025 as user engagement peaks

Ethereum co-founder Vitalik Buterin unveiled a set of ambitious goals for the network’s next phase of development, coinciding with a new milestone in ecosystem engagement In an April 30 post,

Ethereum CrossX Indicators Flashes Buy As Insitution Accumulates, Analyst Says Brace For $4,000

New reports indicate that the Ethereum (ETH) CrossX indicator is flashing strong buy signals, suggesting a potential breakout toward $4,000 As the market transitions from selling to buying, on-chain